NBKI: in Russia only 18 percent of applications for a car loan were approved
From January to September 2024, Russians submitted more than 10 million applications for a car loan. The National Bureau of Credit Histories (NBKI) reported this to Lenta.ru.
According to him, only 18 percent of such requests were approved. Additionally, only 70 percent of approvals translated into loans.
The majority of applications for such a loan were submitted in Tatarstan. We are talking about 520.6 thousand hits. In the Krasnodar Territory there are 507 thousand, in the Moscow Region 492.9 thousand, in Moscow 487.5 thousand, and in Bashkiria 417.8 thousand.
The highest share of approved applications in January-September 2024 was recorded in Tatarstan (25.2 percent), Chuvashia (24.6 percent), Kirov region (22.3 percent), Udmurt Republic (22 percent) and Nizhny Novgorod region (21. 8 percent). The capital and St. Petersburg showed 19.3 and 21.7 percent, respectively.
As NBKI Marketing Director Alexey Volkov noted, in 2024 the demand for car loans remains high. However, as the regulator’s monetary policy tightens, banks and other lenders reduce their risk appetite and prefer to focus on borrowers with a high level of creditworthiness.
It was previously reported that from January to July 2024, the volume of loans issued in Russia for the purchase of a car more than doubled when compared with the same period in 2023, and reached almost 1.4 trillion rubles.
#region #Russia #largest #number #applications #car #loans #named